“Competing buildings in the Preston Center submarket are achieving rates 20 percent higher,” said Jonathan Napper, vice president with Transwestern Investment Group. “We are confident the planned upgrades to the lobby, exterior, garage and corridors will be valued by the building’s quality tenants.”

The Douglas Avenue high-rise is just the latest in a series of office buildings that have changed hands in the last year in the Preston Center district.

Only about 8 percent of the office space in Preston Center is empty — the lowest of any Dallas-area business district.